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CommSec agrees to $20M penalty for ‘serious and unacceptable’ system failures
Financial Services 2022-03-03 9:02 pm By Bianca Hrovat

Commonwealth Bank unit CommSec has agreed to pay a $20 million penalty for a series of “serious and unacceptable” failures that lead to excessive fee charges, a court has heard.

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GetSwift appeals judgment scathing of ‘PR-driven’ approach to disclosures
Securities 2022-02-22 10:28 pm By Christine Caulfield

Logistics company GetSwift and its directors are appealing a win for ASIC in the regulator’s case that alleged they breached their continuous disclosure obligations and engaged in misleading and deceptive conduct in the release of 22 ASX announcements.

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Settlement in GetSwift shareholder class action off the table for now
Class Actions 2022-02-17 5:00 pm By Christine Caulfield

A settlement in a shareholder class action against GetSwift has collapsed as the logistics company seeks to secure financing to keep it afloat and pay the final portion of the deal’s $1.5 million cash component.

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GetSwift class action settlement at risk as financial position in doubt
Class Actions 2022-02-14 10:20 am By Christine Caulfield

A settlement agreement in a shareholder class action against GetSwift may be scrapped as the applicant seeks more information as to whether the logistics company is solvent or about to go under.

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Low GetSwift class action settlement to get OK despite ‘slam dunk’ case
Class Actions 2021-11-18 2:39 pm By Miklos Bolza

A judge has indicated he will approve the ‘very low’ GetSwift class action settlement because the company appeared to be broke, but the law firm behind the case has been pulled up by the court for a previous costs estimate that has blown out by $3 million.

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Fees for no service class action must clarify ‘serious allegations’ against AMP
Class Actions 2021-11-02 4:27 pm By Cindy Cameronne

A judge has ordered a class action against AMP to provide more detail in its case accusing the financial services firm of failing to disclose information to shareholders about allegedly misleading ASIC and charging clients fees for no service.

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Judge slams notice of ‘very light’ GetSwift class action settlement
Class Actions 2021-10-18 3:58 pm By Miklos Bolza

A judge has criticised a proposed settlement notice in a shareholder class action against GetSwift for failing to inform group members of how much they would receive from the “very light” settlement, which relies heavily on the logistics firm’s success after relocating out of Australia.

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GetSwift settlement gives class action members $1.5M, slice of raised capital
Class Actions 2021-09-28 5:00 pm By Miklos Bolza

Logistics company GetSwift’s settlement of a shareholder class action will see group members share in $1.5 million cash plus access to further funds and revenue raised by the company over a three-year period.

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CBA slams class action’s ‘shameless’ attempt to obtain CEO’s emails
Class Actions 2021-08-26 2:13 pm By Bianca Hrovat

The Commonwealth Bank of Australia has slammed an attempt by a class action to “trawl through” its Chief Executive Officer’s emails in search of correspondence regarding it decision to rebate commissions grandfathered by the Future of Financial Advice reforms.

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GetSwift to resolve shareholder class action in ‘creative’ settlement
Class Actions 2021-07-16 10:00 am By Christine Caulfield

GetSwift has reached an agreement to settle a shareholder class action accusing the logistics company of misleading statements over contracts, avoiding a trial that was set to begin in two months.

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